Oh hey there, 4-digit debt!

4 digit debt

You know that feeling when you’ve got a goal and achieving it becomes your bane of existence and you’re way ahead of target? Yup, that’s how I’m feeling right about now, and it’s a awesome feeling! Nothing short of I-can-conquer-the-world type stuff.

All the overtime Mr. Unchained has been putting in has paid off in the form of higher paychecks. Today’s paycheck was nearly $500 higher than what I had budgeted for, allowing us to put $1,000 towards our debt today. I had also exchanged some foreign currency with the Mother in Law that we had leftover from our big Asia trip, which was an $100, and also put the dividend income we’d received this month ($21.29) towards it.

We’re now sitting at $9,669.19!

This is a big milestone as we’re finally back into the 4-digit debt! We’re at 83.5%, which sounds higher than it really is given that we started the year at 127.6% (the starting balance in 2015 was 100%, so we actually ended up going in to more debt in the new year.) We’ve currently paid of $5,107.85 of principal to date, which doesn’t sound too shabby to me since today marks exactly 2 months that I’ve been back to work.

HELOC - April 8

Based on my updated Loan Repayment Schedule (which assumes a $400 weekly payment), we’ll now be DEBT FREE by September 30! This is awesome progress since our original goal was to be Debt Free by December 31 (3 months ahead of target) and the original Loan Repayment Schedule I had created showed a Debt Free Date of October 31 (1 month ahead of schedule).

Date Transaction Amount Balance
March 21, 2016 Balance $12,663.77 $12,663.77
March 25, 2016 Payment -$873.29 $11,790.48
April 1, 2016 Payment -$1,000.00 $10,790.48
April 6, 2016 Payment -$21.29 $10,769.19
April 8, 2016 Payment -$100.00 $10,669.19
  Payment -$1,000.00 $9,669.19
April 9, 2016 Interest $28.72 $9,697.91
April 15, 2016 Payment -$400.00 $9,297.91
April 22, 2016 Payment -$400.00 $8,897.91
April 29, 2016 Payment -$400.00 $8,497.91
May 6, 2016 Interest $22.66 $8,520.57
Payment -$400.00 $8,120.57
May 13, 2016 Payment -$400.00 $7,720.57
May 20, 2016 Payment -$400.00 $7,320.57
May 27, 2016 Payment -$400.00 $6,920.57
June 3, 2016 Interest $18.45 $6,939.02
Payment -$400.00 $6,539.02
June 10, 2016 Payment -$400.00 $6,139.02
June 17, 2016 Payment -$400.00 $5,739.02
June 24, 2016 Payment -$400.00 $5,339.02
July 1, 2016 Interest $14.24 $5,353.26
Payment -$400.00 $4,953.26
July 8, 2016 Payment -$400.00 $4,553.26
July 15, 2016 Payment -$400.00 $4,153.26
July 22, 2016 Payment -$400.00 $3,753.26
July 29, 2016 Payment -$400.00 $3,353.26
August 5, 2016 Interest $8.94 $3,362.20
Payment -$400.00 $2,962.20
August 12, 2016 Payment -$400.00 $2,562.20
August 19, 2016 Payment -$400.00 $2,162.20
August 26, 2016 Payment -$400.00 $1,762.20
September 2, 2016 Interest $4.70 $1,766.90
Payment -$400.00 $1,366.90
September 9, 2016 Payment -$400.00 $966.90
September 16, 2016 Payment -$400.00 $566.90
September 23, 2016 Payment -$400.00 $166.90
September 30, 2016 Payment -$400.00 -$233.10
October 7, 2016 Interest -$0.62 -$233.72
Payment -$400.00 -$633.72
October 14, 2016 Payment -$400.00 -$1,033.72
October 21, 2016 Payment -$400.00 -$1,433.72
October 28, 2016 Payment -$393.82 -$1,827.54

 

Mrs. Unchained 55

2 Comments

  1. Great progress, keep it up!!!

    It always feels great to hit targets, even better to challenge yourself to find a little bit more money each month to throw at it!!!!

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